MONERO Price Prediction: Long-term (XMR) Value Forecast – July 7
- The long-term outlook remains in a bullish trend
- The bears had brief control of the market but the bulls are back in control with $120.00 on the card.
XMR/USD Long-term Trend: Bullish
Supply zone: $140.00, $180.00, $220.00
Demand zone: $40.00, $20.00, $10.00
XMR continues in a bullish trend in its long-term outlook. The week ended was largely dominated by the bears as the cryptocurrency was in drawdown. The large bearish candle of 30th June broke the trendline and price fell to $82.61 in the demand area before exhaustion sets in on 2nd July.
The bull took control of the market with a pushed to the trendline at $93.64 and retraced to $88.18 on 5th July.
With increased bullish momentum the strong resistance at the trendline was broken and XMRUSD shot up to $99.51 in the supply area above the trendline as the high of the week.
Price is above the two EMAs and the stochastic oscillator signal points up at 28% suggesting an upward momentum in price of the coin in the days ahead.
$120.00, a key supply area may be retested as more buyers take positions in the new week and more candles opened and closed above the EMAs.
Live Monero (XMR) Price:
1 XMR/USD =$461.4724 change ~ -0.38%
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